The Wii Is a Wildly Popular Home Video Game Console

question 375

Multiple Choice

The Wii is a wildly popular home video game console released by Nintendo. The Wii system was first available in the U.S. in November, 2006 and has sold more than 30 million units as of August 2010. The Wii retails for $199. Suppose Ahmed is willing to pay $230, Lana is willing to pay $175, and Bodie is willing to pay $300 for a Wii. What is the value of Ahmed's consumer surplus?

• A) $31
• B) $280
• C) $249
• D) No consumer surplus is generated because Ahmed will not buy the Wii.

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Definitions:

Ineffective

Lacking the ability or success in producing a desired or intended result.

Time Efficient

Making the best possible use of time to ensure task completion or goal achievement with minimal wasted time.

Cultural Heritage

The legacy of physical artifacts and intangible attributes of a group or society inherited from past generations.

Sociohistorical Heritage

The social and historical background or traditions that influence a person or community.